South Carolina is Well-Positioned for Supply Chain Optimization and Logistics Efficiencies
- South Carolina’s tight industrial market will continue to strengthen as companies look for ways to improve their supply chains and productivity.
- Area Development Magazine ranked South Carolina the No. 3 State for Doing Business in 2015.
- Rail service regains popularity.
- Activity is strong at the Port of Charleston and South Carolina Inland Port.
- Rental rates are on the rise as construction costs increase and demand for space remains strong.
Accessibility is Key in Today’s Site Selection Process
South Carolina’s industrial market was traditionally driven by low real estate costs and the availability of skilled labor at affordable costs. In today’s transforming industrial market, manufacturers and distributors are attracted to South Carolina for its accessibility to and from other markets at a time when real estate costs are increasing. The trend is supported by recent site selection surveys by Area Development Magazine, which identified the top three site selection factors as highway accessibility, availability of skilled labor and labor costs. Transportation costs are making up a growing portion of operating expenses, and thus highway accessibility is outweighing real estate costs in site selection, specifically for distribution centers. Efficient logistics and supply chain optimization are growing increasingly important as firms look for ways to cut operating costs.
Area Development Magazine recently named South Carolina the No. 3 State for Doing Business in 2015, behind Georgia and Texas, which ranked first and second, respectively. South Carolina has ranked in the top three spots since 2012 when it ranked second place. The 2015 ranking was awarded due to South Carolina’s overall business environment and labor climate. According to the magazine, states that consistently rank at the top for business performance feature an attractive business environment and labor pool with quality infrastructure allowing for global access, all of which are among the top site selection factors.
Download the full report
For more information, including the market summary statistics, download the full research report.Download report